Layne Christensen Company (LAYN) Position Boosted by Teachers Advisors LLC
Teachers Advisors LLC lifted its position in shares of Layne Christensen Company (NASDAQ:LAYN) by 11.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 35,051 shares of the construction company’s stock after buying an additional 3,619 shares during the period. Teachers Advisors LLC owned 0.18% of Layne Christensen worth $308,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in LAYN. Royce & Associates LP raised its stake in Layne Christensen by 3.6% during the second quarter. Royce & Associates LP now owns 1,953,571 shares of the construction company’s stock worth $17,172,000 after purchasing an additional 68,599 shares during the period. Dimensional Fund Advisors LP raised its stake in Layne Christensen by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,135,219 shares of the construction company’s stock worth $10,035,000 after purchasing an additional 96,511 shares during the period. KBC Group NV raised its stake in Layne Christensen by 1.1% during the second quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 2,515 shares during the period. Bank of New York Mellon Corp raised its stake in Layne Christensen by 7.9% during the first quarter. Bank of New York Mellon Corp now owns 84,752 shares of the construction company’s stock worth $750,000 after purchasing an additional 6,217 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in Layne Christensen during the second quarter worth approximately $416,000. 88.94% of the stock is currently owned by institutional investors and hedge funds.
Layne Christensen Company (NASDAQ:LAYN) opened at $12.85 on Friday. Layne Christensen Company has a one year low of $6.98 and a one year high of $13.64. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 2.93.
Layne Christensen (NASDAQ:LAYN) last issued its earnings results on Monday, September 11th. The construction company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.07. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The business had revenue of $126.20 million for the quarter, compared to the consensus estimate of $122.99 million. During the same quarter last year, the firm posted ($0.21) EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. sell-side analysts expect that Layne Christensen Company will post -0.36 EPS for the current year.
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A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Layne Christensen from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Jefferies Group LLC reissued a “hold” rating and issued a $9.00 target price on shares of Layne Christensen in a research note on Friday, August 4th. Finally, ValuEngine raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th.
Layne Christensen Company Profile
Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through three segments: Water Resources, Inliner and Mineral Services. Its Water Resources segment provides its customers with solutions for various aspects of water supply system development and technology throughout the United States.
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